This course expands students understanding of risk and presents practical methods for dealing with risk. Topics covered include identification of risks, evaluating extent of potential loss, and selecting a method for handling risk exposure. Methods such as risk retention and hedging will be discussed, although much of the class will be devoted to the use of commercial insurance to cover risk exposures. The course will cover the legal principles associated with risk and insurance, analysis of insurance contracts, professional and product liability, automobile insurance, insurance related to commercial enterprises, insurance company operations and government regulation of the insurance industry.
Prerequisites: FINA3100 and 90 credits3 Credits